DOE LOAN PROGRAMS

DOE Has Made More Than 

$30 Billion in Loans and 

Guarantees and Needs to 

Fully Develop Its Loan 

Monitoring Function

Statement of Frank Rusco, Director 

Natural Resources and Environment

Testimony

Before the Subcommittee on Oversight 

and Investigations, Committee on 

Energy and Commerce, House of 

Representatives

For Release on Delivery 

Expected at 9:15 a.m. ET

Friday, May 30, 2014

GAO-14-645T

United States Government Accountability Office
United States Government Accountability Office

Highlights of GAO-14-645T, a testimony 

before the Subcommittee on Oversight and 

Investigations, Committee on Energy and 

Commerce, House of Representatives

May 30, 2014

DOE LOAN PROGRAMS

DOE Has Made More Than $30 Billion in Loans and 

Guarantees and Needs to Fully Develop Its Loan 

Monitoring Function

Why GAO Did This Study

DOE’s Loan Programs Office 

administers the LGP for certain 

renewable or innovative energy 

projects and the ATVM loan program 

for projects to produce more fuelefficient vehicles and components. 

Both programs can expose the 

government and taxpayers to 

substantial financial risks if borrowers 

default. These risks are considered in 

calculating credit subsidy costs. Such

costs represent the estimated net longterm cost of extending or guaranteeing 

credit, in present value terms, over the 

entire period the loans are outstanding 

(not including administrative costs).

The law requires that the credit subsidy 

costs of DOE loans and loan 

guarantees be paid for by

appropriations, borrowers, or some 

combination of both.

This testimony focuses on (1) the

status of DOE’s loan programs and (2) 

the findings in GAO’s May 2014 report 

on the extent to which DOE has 

developed and adhered to loan 

monitoring policies for its loan 

programs. This statement is based on 

a series of GAO reports from 2007 

through 2014 that noted concerns 

about DOE’s implementation of the

loan programs.

What GAO Recommends

In May 2014, GAO recommended that 

DOE fully develop its loan monitoring

function by: evaluating loan monitoring

effectiveness, staffing key positions, 

updating management and reporting 

software, and completing policies and 

procedures for loan monitoring. DOE 

generally agreed with the 

recommendations. GAO is making no 

new recommendations in this 

testimony.

What GAO Found

The Department of Energy‘s (DOE) three loan programs have made more than 

$30 billion in loans and loan guarantees for supporting certain renewable or 

innovative energy technologies. For the Section 1703 Loan Guarantee Program 

(LGP), begun in 2006, borrowers generally must pay credit subsidy costs for the 

loans. In 2014, DOE guaranteed its first two loans under Section 1703 for a total 

of $6.2 billion. For those two loan guarantees, DOE calculated credit subsidy 

costs to be $0. The 1703 program has $28.7 billion in remaining loan guarantee 

authority. In contrast, under Section 1705 of the LGP, which expired September 

30, 2011, Congress appropriated funds to pay credit subsidy costs. DOE 

guaranteed 31 section 1705 loans for $15.7 billion; and three of these loans have 

defaulted. The Advanced Technology Vehicles Manufacturing (ATVM) loan 

program, which was also given appropriations to pay credit subsidy costs, has 

made 5 loans for $8.4 billion. The ATVM program has $16.6 billion of remaining 

loan authority. Two of the five ATVM loans have defaulted. DOE has not made 

an ATVM loan since March 2011 and, as of February 2014, it had one active 

application. In April 2014, GAO reported that unless DOE can demonstrate a

demand for new ATVM loans and viable applications, Congress may wish to 

consider rescinding all or part of the remaining $4.2 billion in credit subsidy 

appropriations.

Status of DOE Loan Programs

Dollars in billions

Program

Number of loan 

guarantees/

loans made

Number of 

loans defaulted

Loan 

guarantee/loan 

amounts at closing

Remaining 

authority

LGP – Section 1703 2 0 $6.2 $28.7

LGP – Section 1705 31 3 $15.7 $0

ATVM loan program 5 2 $8.4 $16.6

Total 38 5 $30.3 $45.3

Source: GAO analysis of DOE data.

In May 2014, GAO reported that DOE had not fully developed or consistently 

adhered to loan monitoring policies for its loan programs. In particular, DOE has 

established policies for most loan monitoring activities, but policies for some of 

these activities—for example, for evaluating and mitigating program-wide risk—

remain incomplete or outdated. Further, in some cases GAO examined, DOE 

generally adhered to its loan monitoring policies but, in others, DOE adhered to 

those policies inconsistently or not at all. For example, DOE did not adhere to its 

policy requiring it to evaluate the effectiveness of its loan monitoring. DOE did 

not consistently adhere to policies because the Loan Programs Office was still 

developing its organizational structure, including its staffing, management and 

reporting software, and procedures for implementing policies. As a consequence,

during a period of significant program events (2009 to 2013), such as 5 borrower 

defaults, DOE was making loans and disbursing funds without a fully developed 

loan monitoring function.

View GAO-14-645T. For more information, 

contact Frank Rusco at (202) 512-3841 or 

ruscof@gao.gov.
Page 1 GAO-14-645T 

Chairman Murphy, Ranking Member DeGette, and Members of the 

Subcommittee:

I am pleased to be here today to discuss the Department of Energy’s 

(DOE) loan programs. The Loan Guarantee Program (LGP), authorized 

by Congress in 2005, was designed to encourage investment in 

commercial use of new or significantly improved technologies in energy 

projects because it can be difficult for borrowers to obtain funding for risky 

new technologies. Similarly, Congress authorized the Advanced 

Technology Vehicles Manufacturing (ATVM) loan program in 2007. The 

program is designed to encourage the automotive industry to invest in 

new technologies that would result in more fuel-efficient passenger 

vehicles and their components. Subsequently, Congress authorized DOE 

to make tens of billions of dollars in loans and guarantees, and it 

appropriated billions of dollars to cover the subsidy costs of those loans 

and some of the loan guarantees. Both of the programs can expose the 

federal government to substantial financial risks if borrowers default on 

their loans.

My testimony draws on our extensive body of work, begun in 2007, 

examining DOE’s loan programs. We have repeatedly reported on our 

concerns about DOE’s implementation of the programs and 

recommended that DOE complete, regularly update, and follow policies 

and procedures; better document processes and decisions; develop 

relevant performance measures and goals; and evaluate program 

efficiency and effectiveness. I will focus my remarks today on (1) the 

status of DOE’s loan programs and (2) the findings in our most recent 

report on the extent to which DOE has developed and adhered to loan 

monitoring policies for its loan programs.

The GAO reports on DOE’s Loan Programs Office, the LGP, and the 

ATVM loan program on which this statement is based were issued from 
Page 2 GAO-14-645T 

February 2007 through May 2014.1 Each report contains detailed 

information about the scope and methodology used; in all cases, the work 

was conducted in accordance with generally accepted government 

auditing standards. Those standards require that we plan and perform the 

audit to obtain sufficient, appropriate evidence to provide a reasonable 

basis for our findings and conclusions based on our audit objectives. We 

believe that the evidence obtained provides a reasonable basis for our 

findings and conclusions based on our audit objectives.

DOE’s loan programs have made more than $30 billion in loans and loan 

guarantees, mainly from 2009 through 2011. This amount includes 

approximately $21.9 billion for 33 loan guarantees made under two 

programs within the LGP that are authorized under separate sections of 

Title XVII of the Energy Policy Act of 2005 (EPACT)—sections 1703 and 

1705. It also includes $8.4 billion for 5 loans made under the ATVM loan 

program (see table 1). 

 1 GAO, DOE Loan Programs: DOE Should Fully Develop Its Loan Monitoring Function 

and Evaluate Its Effectiveness, GAO-14-367 (Washington, D.C.: May 1, 2014); DOE Loan 

Guarantees: Further Actions are Needed to Improve Tracking and Review of Applications, 

GAO-12-157 (Washington, D.C.: Mar. 12, 2012); Department of Energy: Advanced 

Technology Vehicle Loan Program Implementation Is Under Way, but Enhanced 

Technical Oversight and Performance Measures Are Needed, GAO-11-145 (Washington, 

D.C.: Feb. 28, 2011); Department of Energy: Further Actions Are Needed to Improve 

DOE’s Ability to Evaluate and Implement the Loan Guarantee Program, GAO-10-627 

(Washington, D.C.: July 12, 2010); Department of Energy: New Loan Guarantee Program 

Should Complete Activities Necessary for Effective and Accountable Program 

Management, GAO-08-750 (Washington, D.C.: July 7, 2008); and The Department of 

Energy: Key Steps Needed to Help Ensure the Success of the New Loan Guarantee 

Program for Innovative Technologies by Better Managing Its Financial Risk, 

GAO-07-339R (Washington, D.C.: Feb. 28, 2007).

DOE’s Programs 

Have Made 

Approximately $30 

Billion in Loans and 

Loan Guarantees, 

Mostly Before 2012
Page 3 GAO-14-645T 

Table 1: DOE Loan Programs’ Loan Guarantee and Loan Amounts, Remaining 

Authority, and Remaining Credit Subsidy Appropriations

Dollars in billions

Program

Loan guarantee/loan 

amounts at closing

Remaining

authority

Remaining 

appropriations

for credit 

subsidy costs

LGP – Title XVII Section 1703 $6.2 $28.7a $0.2b

LGP – Title XVII Section 1705 $15.7 $0c $0c

ATVM loan program $8.4 $16.6 $4.2

Total $30.3 $45.3 $4.4

Source: GAO analysis of DOE data.

a

This amount includes DOE’s estimate of $848 million in additional loan guarantees that can be 

supported by the $170 million in credit subsidy appropriations for energy efficiency and renewable 

energy projects.

b

These credit subsidy appropriations are only for energy efficiency and renewable energy projects, 

not other categories covered by section 1703 such as nuclear generation and advanced fossil energy. 

This number is rounded from $170 million.

c

The authority to enter into loan guarantees under section 1705 expired on September 30, 2011.

In February 2014, DOE made loan guarantees for about $6.2 billion to 

two partners in the Vogtle nuclear generation project.2 (See app. I for a 

complete list of DOE loan guarantees and loans as of March 2014.) DOE 

issued these guarantees under its section 1703 program, which DOE 

established about 8 years ago. Section 1703 of EPACT authorized DOE 

to guarantee loans for energy projects that (1) use new or significantly 

improved technologies as compared with commercial technologies 

already in service in the United States and (2) avoid, reduce, or sequester 

emissions of air pollutants or man-made greenhouse gases. The law 

requires that the credit subsidy costs of loans and loan guarantees be 

paid for by appropriations, borrowers, or some combination of both. Credit 

subsidy costs represent the estimated net long-term cost of extending or 

guaranteeing credit, in present value terms, over the entire period the 

loans are outstanding (not including administrative costs).3

 2 This project involves constructing two new nuclear reactors at Plant Vogtle in Georgia.

Initially, 

Congress provided no appropriation to cover the credit subsidy costs of 

3 In calculating the subsidy cost for a guaranteed loan program, agencies estimate (1) 

payments from the government to cover interest subsidies, defaults, delinquencies, or 

other payments and (2) payments to the government including fees, penalties, and 

recoveries on default.

After About 8 Years, DOE 

Guaranteed Two Loans for 

$6.2 Billion under the 

Section 1703 Loan 

Guarantee Program
Page 4 GAO-14-645T 

loan guarantees under section 1703, requiring all borrowers that receive a 

loan guarantee to pay a fee to cover the credit subsidy costs. In April 

2011, Congress appropriated $170 million to pay credit subsidy costs for 

energy efficiency and renewable energy projects. DOE estimated that the 

$170 million would cover subsidy costs for about $848 million in loan 

guarantees, assuming a credit subsidy cost rate of 20 percent. As 

Congress did not provide appropriations for credit subsidy costs for 

nuclear generation projects, such as Vogtle, the costs for those loan 

guarantees must be covered by borrower fees. DOE calculated the credit 

subsidy costs as $0 for the Vogtle loan guarantees.

DOE has about $28.7 billion in remaining loan guarantee authority for the 

section 1703 program, about $3.8 billion of which DOE conditionally 

committed,4 in 2010, for two guarantees—one for the third partner in the 

Vogtle project and another for a nuclear enrichment project. In December 

2013, DOE announced a new solicitation for applications for up to $8 

billion in loan guarantees for advanced fossil energy projects. Most 

recently, in April 2014, DOE announced a draft solicitation for up to $4 

billion in guarantees for energy efficiency and renewable energy projects.

DOE had made 31 loan guarantees for approximately $15.7 billion under 

its section 1705 program by September 30, 2011, when authority to enter 

into loan guarantees under this section expired. The American Recovery 

and Reinvestment Act (Recovery Act) added section 1705 to EPACT in 

February 2009. Section 1705 expanded the LGP and provided funding to 

include projects that use commercial energy technology employing 

renewable energy systems, electric power transmission systems, or 

leading-edge biofuels that meet certain criteria. The Recovery Act 

provided about $2.4 billion in appropriations to cover credit subsidy costs 

for loan guarantees under this section.5

 4 A conditional commitment is a commitment by DOE to issue a loan guarantee if the 

applicant satisfies specific requirements. The Secretary of Energy has the discretion to 

cancel a conditional commitment at any time for any reason prior to the issuance of a loan 

guarantee.

5 The Recovery Act initially appropriated nearly $6 billion to pay credit subsidy costs; 

however, Congress subsequently reduced this amount by transfer and rescission to fund 

other priorities.

DOE Guaranteed Nearly 

$16 Billion under the 

Section 1705 Loan 

Guarantee Program, 

Mainly in 2011
Page 5 GAO-14-645T 

DOE made these guarantees for projects involving biomass, geothermal, 

solar, and wind generation of electricity; energy storage; solar 

manufacturing; and electricity transmission. According to DOE’s website, 

15 projects (representing 18 loan guarantees) are generating electricity.6

Two borrowers withdrew from the program in 2012 before starting to draw 

funds from their loans. Additionally, in September and October 2013, 

DOE deobligated 2 loan guarantees because the borrowers did not seem 

likely to meet the loan conditions required to begin drawing on their loans. 

Three other borrowers that received loan guarantees have defaulted and 

filed for bankruptcy—one of these borrowers has been restructured along 

with its loan guarantee, which remains active; the other two borrowers are 

in liquidation proceedings. When issuing the loan guarantees, DOE 

obligated $1.9 billion for the credit subsidy costs of the guarantees. The 

remaining approximately $550 million in LGP Recovery Act credit subsidy 

appropriations were rescinded at the end of 2012.7 Since the guarantees 

were issued, DOE has reestimated the credit subsidy costs, which it is 

required to do annually. We are initiating work to examine how the costs 

have changed.

Between September 2009 and March 2011, DOE made five ATVM loans 

worth $8.4 billion. The ATVM loan program was established in December 

2007 by the Energy Independence and Security Act (EISA), which 

authorized up to $25 billion in direct loans to manufacturers to produce 

more fuel-efficient vehicles and components. The fiscal year 2009 

Continuing Resolution provided the program with $7.5 billion in 

appropriations to cover credit subsidy costs of which DOE has used $3.3 

billion for the five loans it made, leaving $4.2 billion in remaining credit 

subsidy appropriations. These loans went to both established automakers 

and start-up companies for the manufacture of fuel-saving enhancements 

 6 Two projects, Desert Sunlight and Ivanpah, have multiple guarantees/borrowers 

associated with them. See appendix I.

7 These funds were rescinded in accordance with the repayment provisions of section 

1306 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, except for $96 

million for which the President waived the repayment provisions on December 28, 2012. In 

March 2013, DOE officials told us that they anticipate they will need the maintained funds 

to pay the credit subsidy costs of modifications that may be made to existing loan 

guarantees issued under section 1705. Modification means a government action, such as 

a change in the terms of the loan contract or legislation that provides new collection tools, 

that was not anticipated in the original credit subsidy cost estimation. It does not include 

routine administrative workouts of troubled loans or loans in imminent default.

DOE Loaned $8.4 Billion 

under the ATVM Loan 

Program, with the Most 

Recent Loan in 2011
Page 6 GAO-14-645T 

of conventional vehicle technology, plug-in hybrids, and all-electric 

vehicles. In May 2013, one borrower paid back its loan. Two ATVM 

borrowers have defaulted on their loans and, in 2013, DOE sold the 

defaulted loan notes in auction proceedings.

DOE has not made an ATVM loan since March 2011. As of February 

2014, DOE had one active application for about $200 million. DOE has 

asserted that new outreach efforts to potential applicants, particularly 

component manufacturers, will increase awareness and interest in the 

program and lead to additional applications in 2014. In April 2014, we 

reported that unless DOE can demonstrate a demand for new ATVM 

loans and viable applications, Congress may wish to consider rescinding 

all or part of the remaining $4.2 billion in credit subsidy appropriations.8

In May 2014, we reported on DOE’s monitoring of its approximately $30 

billion portfolio of loans and guarantees. We found DOE has not fully 

developed or consistently adhered to loan monitoring policies for its loan 

programs. In particular, DOE has established policies for most loan 

monitoring activities, but policies for some of these activities—for 

example, for evaluating and mitigating program-wide risk—remain 

incomplete or outdated. Further, in some cases we examined, DOE 

generally adhered to its loan monitoring policies but, in others, DOE 

adhered to those policies inconsistently or not at all. For example, DOE 

did not adhere to its policy requiring it to evaluate the effectiveness of its 

loan monitoring. We found that DOE did not consistently adhere to 

policies because the Loan Programs Office was still developing its 

organizational structure, including its staffing, management and reporting 

software, and procedures for implementing policies. As a consequence, 

DOE was making loans and disbursing funds from 2009 through 2013 

without a fully developed loan monitoring function.

To provide greater assurance that DOE is effectively monitoring its loans, 

in our May 2014 report we recommended that the Secretary of Energy 

direct the Executive Director of the Loan Programs Office to fully develop 

its organizational structure by staffing key monitoring positions, updating 

management and reporting software, and completing policies and 

 8 GAO, 2014 Annual Report: Additional Opportunities to Reduce Fragmentation, Overlap, 

and Duplication and Achieve Other Financial Benefits, GAO-14-343SP (Washington, D.C.: 

Apr. 8, 2014).

DOE Has Not Fully 

Developed or 

Consistently Adhered 

to Its Loan Monitoring 

Policies
Page 7 GAO-14-645T 

procedures for loan monitoring and risk management. We further 

recommended that the Secretary direct the Executive Director to evaluate 

the effectiveness of DOE’s monitoring as called for by its policies. DOE 

generally agreed with the recommendations.

Chairman Murphy, Ranking Member DeGette, and Members of the 

Subcommittee, this completes my prepared statement. I would be 

pleased to respond to any questions that you may have at this time.

If you or your staff members have any future questions about this 

testimony, please contact me at (202) 512-3841 or ruscof@gao.gov. 

Contact points for our Offices of Congressional Relations and Public 

Affairs may be found on the last page of this statement. Key contributors 

to this testimony include Karla Springer, Assistant Director; Cindy Gilbert; 

Ryan Gottschall; Cynthia Norris; Barbara Timmerman; and Jarrod West.

GAO Contact and 

Staff 

Acknowledgments
Appendix I: DOE Loan Guarantees and Loans 

as of March 2014

Page 8 GAO-14-645T 

Dollars in millions

Program/borrower Sector

Loan 

guarantee/ 

loan amount 

at closing Closing date Notes/status

Loan Guarantee Program (LGP) - Title XVII Section 1705

1366 Technologies Inc. Solar manufacturing $143 9/8/11

Abengoa Bioenergy Biomass of Kansas, 

LLC

Biomass 127 9/29/11

Abound Manufacturing Solar, LLC Solar manufacturing 370 12/9/10 Defaulted/bankruptb

AES ES Westover, LLC Transmission 17 12/22/10 Withdrew prior to drawing 

funds

Agua Caliente Solar, LLC Solar generation 967 8/5/11

Arizona Solar One, LLC (aka Abengoa 

Solar, Inc; Solana)

Solar generation 1,359 12/20/10

AV Solar Ranch 1, LLC Solar generation 646 9/30/11

Caithness Shepherds Flata Wind generation 1,314 12/16/10

Cogentrix of Alamosa, LLC Solar generation 89 9/9/11

Desert Sunlight 250, LLCa Solar generation 660 9/29/11 Part of overall Desert Sunlight 

project

Desert Sunlight 300, LLCa Solar generation 801 9/29/11 Part of overall Desert Sunlight 

project

Genesis Solar, LLCa Solar generation 852 8/26/11

Granite Reliable Power, LLCa Wind generation 169 9/23/11

Great Basin Transmission South, LLC 

(aka SWIP/On Line)

Transmission 324 2/11/11

High Plains Ranch II, LLC (aka Sunpower 

Corp CA Valley Solar Ranch)

Solar generation 1,189 9/30/11

Kahuku Wind Power, LLC Wind generation 117 7/26/10

Mesquite Solar 1, LLC Solar generation 330 9/28/11

Mojave Solar LLC (aka Abengoa Solar 

Mojave)

Solar generation 1,124 9/23/11

NGP Blue Mountain I, LLCa Geothermal 99 9/3/10

OFC 2, LLC (aka Ormat)a Geothermal 350 9/23/11

Poet Project Liberty, LLC Biomass 103 9/23/11 Withdrew prior to drawing 

funds

Prosun Project Company, LLC (aka 

Project Amp/Photon)a Solar generation 1,400 9/30/11 Deobligated prior to drawing funds

Record Hill Wind, LLC Wind generation 102 8/15/11

Solar Partners I (aka Brightsource 

Ivanpah II)

Solar generation 514 4/5/11 Part of overall Ivanpah project

Appendix I: DOE Loan Guarantees and 

Loans as of March 2014
Appendix I: DOE Loan Guarantees and Loans 

as of March 2014

Page 9 GAO-14-645T 

Dollars in millions

Program/borrower Sector

Loan 

guarantee/ 

loan amount 

at closing Closing date Notes/status

Solar Partners II (aka Brightsource 

Ivanpah I)

Solar generation 486 4/2/11 Part of overall Ivanpah project

Solar Partners VIII (aka Brightsource 

Ivanpah III)

Solar generation 510 4/5/11 Part of overall Ivanpah project

Solopower, Inc. Solar manufacturing 185 8/19/11 Deobligated prior to drawing 

funds

Solyndra, Inc. Solar manufacturing 535 9/4/09 Defaulted/bankruptb

Stephentown Regulation Services, LLC 

(aka Beacon Power Corporation)

Energy storage 43 8/6/10 Defaulted/restructured -

restructured guarantee is 

called Stephentown Spindle, 

LLCb

Tonopah Solar Energy (aka Solar 

Reserve, LLC)

Solar generation 692 9/28/11

USG Oregon, LLC Geothermal 94 2/23/11

Section 1705 subtotal $15,711 

LGP - Title XVII Section 1703

Georgia Power Company Nuclear generation $3,462 2/20/14 Part of overall Vogtle project

Oglethorpe Power Corporation Nuclear generation 2,722 2/20/14 Part of overall Vogtle project

Section 1703 subtotal $6,184 

LGP subtotal $21,895 

Advanced Technology Vehicles Manufacturing (ATVM) loan program

Fisker Automotive, Inc. Automotive 

manufacturing

$529 4/22/10 Defaulted/auctioned 

(subsequently bankrupt)b

Ford Motor Company Automotive 

manufacturing

5,937 9/16/09

Nissan North America, Inc. Automotive 

manufacturing

1,448 1/28/10

Tesla Motors, Inc. Automotive 

manufacturing

465 1/20/10 Repaid in full

The Vehicle Production Group, LLC Automotive 

manufacturing

50 3/10/11 Defaulted/auctioned 

(subsequently restructured by 

the purchaser)b 

ATVM subtotal $8,429 

Total $30,323 

Source: GAO analysis of DOE data.
Appendix I: DOE Loan Guarantees and Loans 

as of March 2014

Page 10 GAO-14-645T 

Note: The loan amounts reflected above are those that appear in the Department of Energy’s (DOE) 

accounting system. They include the full amount of the loans partially guaranteed through the 

Financial Institution Partnership Program (FIPP) and do not include capitalized interest. As such, the 

amounts and total for LGP Section 1705 above vary from those presented in GAO-12-157, table 9, 

which did not count the full loan amount for FIPP guarantees and did include capitalized interest.

a

FIPP transaction. Under FIPP, project developers partnered with private lenders to apply to DOE for 

partial guarantees. In a FIPP financing DOE provided a guarantee for up to 80 percent of a loan. The 

lender applicants were required to hold at least 20 percent of the credit exposure for the project. The 

loan amount in the above table represents the full loan amount rather than the partial guarantee, per 

DOE’s accounting system.

b

DOE’s recoveries for some of the defaulted loans were pending at the time of our report, so we did 

not estimate DOE’s losses at the time. We are currently initiating work to examine the estimated 

costs.
Related GAO Products

Page 11 GAO-14-645T 

DOE Loan Programs: DOE Should Fully Develop Its Loan Monitoring 

Function and Evaluate Its Effectiveness. GAO-14-367. Washington, D.C.: 

May 1, 2014.

Federal Support for Renewable and Advanced Energy Technologies. 

GAO-13-514T. Washington, D.C.: April 16, 2013.

Department of Energy: Status of Loan Programs. GAO-13-331R. 

Washington, D.C.: March 15, 2013.

DOE Loan Guarantees: Further Actions Are Needed to Improve Tracking 

and Review of Applications. GAO-12-157. Washington, D.C.: March 12, 

2012.

Department of Energy: Advanced Technology Vehicle Loan Program 

Implementation Is Under Way, but Enhanced Technical Oversight and 

Performance Measures Are Needed. GAO-11-145. Washington, D.C.: 

February 28, 2011.

Department of Energy: Further Actions Are Needed to Improve DOE’s 

Ability to Evaluate and Implement the Loan Guarantee Program. 

GAO-10-627. Washington, D.C.: July 12, 2010.

Department of Energy: New Loan Guarantee Program Should Complete 

Activities Necessary for Effective and Accountable Program 

Management. GAO-08-750. Washington, D.C.: July 7, 2008.

Department of Energy: Observations on Actions to Implement the New 

Loan Guarantee Program for Innovative Technologies. GAO-07-798T. 

Washington, D.C.: April 24, 2007.

The Department of Energy: Key Steps Needed to Help Ensure the 

Success of the New Loan Guarantee Program for Innovative 

Technologies by Better Managing Its Financial Risk. GAO-07-339R. 

Washington, D.C.: February 28, 2007.

Related GAO Products

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